Venezuelan interim leader vows oil sector reform after Maduro ouster [Yahoo! Finance]
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Source: Yahoo! Finance
ties with Washington following the US military ouster of her predecessor, Nicolas Maduro. Since the January 3 capture of Maduro, US President Donald Trump has asserted that the United States essentially controls Venezuela, while making clear that accessing its vast oil reserves is a key goal of the intervention. Sanctioned by Washington since 2019, Venezuela sits on about a fifth of the world's oil reserves and was once a major crude supplier to the United States. But it produced only around one percent of the world's total crude output in 2024, according to OPEC, having been hampered by years of underinvestment, sanctions and embargoes. Without providing details, interim president Delcy Rodriguez told parliament Thursday there would be reforms to Venezuela's Hydrocarbons Law, which limits the involvement of foreign entities in exploiting the nationalized resources. The changes would also touch on so-called anti-blockade provisions which give the government tools to countera
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